£20m plan for Rugby retail park revealed

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DISCUSSIONS have begun to bring a number of new major high street retailers to Rugby, as part of a £20 million revamp of an out of town retail park.

Hammerson, the owner of Elliott’s Field Retail Park off Leicester Road, has said that it has begun pre-letting discussions with high street anchor stores which are now being progressed.

The discussions are part of a planned revamp of Elliott’s Field which is expected to cost around £20 million over the next few years.

Property company Hammerson million from property investors St Martins.

Hammerson has a vast property portfolio across Europe including a number of other shopping centre such as the Bullring in Birmingham.

The firm believe that the park provides ‘significant redevelopment opportunities’.

The 12,700 square metre site is currently made up of ten units over three retail terraces and tenants include TK Maxx, Homebase, Next, Comet, Wickes and Pizza Hut.

Work is expected to begin as early as this year and could be completed by 2014.

A statement on the Hammerson website said: “There is significant scope for Hammerson to create additional space and capitalise on strong demand from fashion and catering tenants, thus increasing the overall rents from the property.”